Global Renal Denervation Devices Market: Snapshot
Renal denervation involves a minimally invasive procedure for the treatment of hypertension that is resistant to drugs or other medical treatment. As per a study published by the National Health and Nutrition Examination Survey, the prevalence of hypertension in the U.S. is approximately 30%. Clinical studies further reveal that 15% of hypertensive people have treatment resistant hypertension. This exhibits a positive outlook for renal denervation (RDN) procedures as it helps to normalize the blood pressure among patients with treatment resistant hypertension.
The report on the renal denervation devices market is segmented on the basis of technology, product, and region. Radiofrequency-based RDN devices display substantial demand due to benefits of efficiency and safety.
The report presents a quantitative and qualitative critical analysis of the global renal denervation devices market based on vital market indicators such as demand drivers, restraints, and growth opportunities. Each and every segment is carefully analyzed employing standard analytical tools to present its growth trajectory and market share projections.
Global Renal Denervation Devices Market: Trends and Opportunities
Rising incidence of hypertension among the urban population has been a significant growth driver for the global renal denervation devices market. RDN procedure offer benefits such as shorter treatment time and permanent cure over drug treatment, which reduces the overall cost of treatment in the long run. Thereby accelerating the market’s growth. Furthermore, awareness of RDN procedure and product approvals from FDA is likely to favor the RDN devices market.
Hypertension involves directly impacting the renal sympathetic nerves. The increasing prevalence of uncontrolled hypertension and treatment resistant hypertension are some other key factors contributing to the market’s growth. Long lasting effect and shorter treatment duration of renal denervation procedure are likely to positively reflect on the RDN devices market. Further, rapid upgrade of RDN devices and a rising geriatric population globally are likely to bode well for the global renal denervation devices market.
However, inadequate data pertaining to the efficacy of RDN procedure is challenging the market’s growth. Lower awareness of RDN procedure over drug based therapy along with lack of favorable reimbursement policies for RDN procedure accounts for slow uptake.
Global Renal Denervation Devices Market: Geographical Analysis
Currently, Europe holds the top rank among other key markets for renal denervation devices market. Expanding at a double-digit growth rate, the region is anticipated to hold on to its dominant position through the forecast period.
North America RDN devices market could accelerate on the back of product approvals from FDA in the next 4-5 years along with an increasing incidence of cardiovascular diseases.
Nonetheless, Asia Pacific could emerge as a lucrative market for RDN devices market due to a growing aging population with high incidence of diabetes, of which a large percentage of the population that has not even received a diagnosis. Further, a large population of hypertensive patients in the region that have not been diagnosed with drug or treatment resistant hypertension, and are trying several alternate therapies and medications for a remedy for the condition.
Global Renal Denervation Devices Market: Competitive Analysis
The renal denervation devices market is oligopolistic in nature with more than 85% market share held by Medtronic. Stringent regulations and long hauls for product approvals limit the number of vendors in this market. Currently, only five devices have received CE mark certification, which includes Boston Scientific’s V2, Covidien’s OneShot, St. Jude’s EnligHTN, and Recor Medical’s Paradise with none of the devices obtaining US FDA approval.
However, the market is anticipated to witness the entry of new players to offer innovative products with reduced procedure time and greater efficacy.
The global renal denervation devices market is segmented as follows:
Global Renal Denervation Devices Market, by technology
- Ultra-sound based renal denervation systems
- Renal Sympathetic Denervation Procedure
- Micro-infusion catheter-based renal denervation systems
- Radiofrequency-based renal denervation systems
Global Renal Denervation Devices Market, by product
- Medtronic- Symplicity Renal Deneravtion System
- St Jude Medical – EnligHTN Multi-Electrode Renal Deneravtion System
- Covidien- OneShot
- Boston Scientific – V2 Renal Denervation System
- ReCor Medical – PARADISE Technology
- Other Emerging Technologies
Global Renal Denervation Devices Market, by geography
- North America
- Asia Pacific
- Rest of the World